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PF Careers and Taxes
| Question | Answer |
|---|---|
| What 3 taxes at least are withheld from your paycheck? | Federal income tax, state income tax, and FICA (social security and medicare) |
| The primary taxes on consumption are what? | Excise tax and sales tax |
| Taxes on wealth include what? | Gift tax, inheritance tax, estate tax, and property tax |
| To market yourself by focusing on your unique strengths and qualities is what? | Branding |
| What is a main source of revenue for local governments? | Property tax |
| What is the IRS? | Internal Revenue Service which is a government organization responsible for tax collection and tax law enforcement |
| What is money earned on a regular basis with little to no effort earning it? | Passive income |
| The government mainly uses tax money for what? | Infrastructure (roads), social services (welfare and other entitlement programs, education |
| If you own property for residential or commercial use, you will pay this tax? | Property tax |
| What is income generated by working? | Earned income |
| When applying for a job, you should do what? | Present yourself well in an interview, provide and cover letter and resume, and follow up with the employer |
| This is a tax on goods or services that goes to your local government. | Sales Tax |
| Income tax filings are due annually by what date? | April 15 |
| What is the amount of your income that is left once your taxes are withheld? | Net pay |
| When setting goals you should do what? | Place time limits on your goals, share them, and make them challenging but something that you will be able to attain |
| What are taxes that are paid out by anyone who earns a living? | Income taxes |
| What is the federal insurance program that is funded by tax dollars that provides benefits to those that are retired, disabled, or unemployed? | Social Security |
| As a rule of etiquette, during your first interview with a company you should not ask about what? | Salary |
| What form is used to determine withholdings? | W-4 |
| Income generated by selling an investment for a higher price is what kind of income? | Portfolio income |
| What is a characteristic of an effective personal goal? | Specific and measurable |
| What form is completed by most American's when filing their taxes? | Form 1040 |
| What form contains information on your wages earned throughout the year and should be received by end of January for you to file your taxes? | W-2 |
Created by:
lbeddow
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